Ann: Termination of Keybridge relationship, page-22

yes it’s more expensive debt at 12% vs 10% of KBC however it removes a reluctant funder and associated problems away.

the point was to remove KBC from the equation, it’s clear MEL are not going to get debt to fund O2 with time running out the only question is how much cash will they need to raise (will they raise further debt to cover O3 and Permian t connection ?)and at what discount my thoughts they will need to raise $4-5m at 0.5c to repay this short term funding and meet their obligations going forward …..